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Jesse Kline: Carney's 'sovereign wealth fund' an admission of Liberal failures

The government has created a hostile environment for private investment

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The Carney government’s recent announcement that it will be setting up a sovereign wealth fund to “invest in strategic Canadian projects” and ensure the returns “are shared with Canadians” lifts the veil on the prime minister’s apparent belief that there’s nothing the private sector does that Ottawa can’t do better.

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In case you’ve ever wondered why you’re relying on big banks and financial advisors with decades of proven experience to manage your investments instead of the accountants in Ottawa who couldn’t balance a chequebook if their lives depended on it, we’re getting the Canada Strong Fund to invest in infrastructure, such as ports and natural resource projects.

Jesse Kline: Carney's 'sovereign wealth fund' an admission of Liberal failures Back to video

The idea to create a sovereign wealth fund isn’t all that unique. As Prime Minister Mark Carney noted, “Many countries that are blessed with natural resources, like Norway, have them.”

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